NEW YORK (TheStreet) -- Shares of HD Supply Holdings (HDS) rocketed up 8.63% to $25.06 in trading Tuesday. The surge comes after the industrial distributor filed its Securities and Exchange Commission (SEC) Form 8-K.
The company reported significantly lower losses in the fourth quarter of its 2013 fiscal year than in the previous year. The company lost $66 million, or 34 cents per share, compared to $713 million, or $5.46 per share, in the fourth quarter of its 2012 fiscal year. It attributed the narrower loss margin in part to extinguishment and modification of debt payments the company made in 2012.
Year-to-year net sales for the quarter decreased to $1.93 billion from $1.97 billion, beating analysts estimates of $1.92 billion, while year to year adjusted sales were up 6.9%.
HD Supply also had a fourth quarter EPS of $0.00, three cents better than analysts estimates of -$0.03
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV